Bank of America’s retiring asset management chief, Richard DeMartini, is set to receive $4 million in incentives before his departure April 1, Reuters reports.

BoA’s annual report indicates that DeMartini, 51, is eligible for a $2 million incentive award and another $2 million after Jan. 1 of next year, for unnamed services.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.